TOKYO — The Fuji TV web has made music and video sales outfit Pony Canyon and publisher Fusosha wholly owned subsidiaries, as part of a corporate group reorganization plans.
Prior to the share buyout Fuji owned 83.0 percent of Pony Canyon and 84.3 percent of Fusosha shares. The remaining stock was mostly owned by the Sankei Shimbun newspaper, which Fuji has acquired. Fuji has also increased its stake in satellite broadcaster BS Fuji from 40.9 percent to 44.4 percent. The buyout is part of the Fuji group’s transition to a consolidated management structure, with Fuji TV becoming the group’s operating holding company in April 2006. The reorg was prompted by Internet start-up Livedoor’s 2005 attempt to take over Nippon Broadcasting System, a radio broadcaster belonging to the Fuji group. In September 2005 Fuji made NBS a wholly owned subsidiary.
In a related move, Fuji has announced the merger of three group ad agencies with Fuji Ad System, an agency jointly owned by the Fuji Sankei and Fuyo corporate groups. Following the signing of official contracts and the approval of shareholders, the mergers are expected to become effective on October 1. The merger is aimed at strengthening Fuji’s position in the growing Internet ad market.